Target Unusual Options Activity For October 16

Investors with a lot of money to spend have taken a bullish stance on Target TGT.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don’t know. But when something this big happens with TGT, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga‘s options scanner spotted 12 uncommon options trades for Target.

This isn’t normal.

The overall sentiment of these big-money traders is split between 58% bullish and 33%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $216,029, and 6 are calls, for a total amount of $382,750.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $170.0 for Target over the recent three months.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Target’s options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Target’s whale activity within a strike price range from $100.0 to $170.0 in the last 30 days.

Target Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Target

Target serves as the nation’s seventh-largest retailer, with its strategy predicated on delivering a gratifying in-store shopping experience and a wide product assortment of trendy apparel, home goods, and household essentials at competitive prices. Target’s upscale and stylish image began to carry national merit in the 1990s-a decade in which the brand saw its top line grow threefold to almost $30 billion-and has since cemented itself as a leading US retailer. Today, Target operates over 1,950 stores in the United States, generates over $100 billion in sales, and fulfills over 2 billion customer orders annually. The firm’s vast physical footprint is typically concentrated in urban and suburban markets as the firm seeks to attract a more affluent consumer base.

After a thorough review of the options trading surrounding Target, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of Target

• Currently trading with a volume of 2,729,443, the TGT’s price is down by -1.13%, now at $158.87.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 35 days.

Professional Analyst Ratings for Target

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $187.5.

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* An analyst from Melius Research has revised its rating downward to Buy, adjusting the price target to $180.
* Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Outperform rating on Target with a target price of $195.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Target with Benzinga Pro for real-time alerts.